In October 2022, Caisse des Dépôts (CDC) successfully launched a new €500 million ($542 million) five-year sustainability bond, in line with its recently updated Green, Social and Sustainability Bond Framework.
This was the organisation's fifth ESG bond that it has issued since 2017 with a final order book in excess of €790 million, bringing together over 40 investors, according to CDC.
CDC's new framework was updated in 2022 and now includes an extensive disclosure regarding EU Taxonomy alignment, including eligibility criteria based on EU Taxonomy Technical Screening and Do No Significant Harm Criteria.
The proceeds will be split 26% on social projects and 76% on environmental projects, including green real estate, digital infrastructure, and social solidarity.
A spokesperson for CDC said: "Through our actions, we hope to encourage other institutional investors to act in a similar way and to share innovations and best practices with them."
Issuer: Caisse des Dépôts
Size: €500 million ($542 million)
Maturity: 25 November 2027
Use of proceeds: Finance or refinance eligible projects as set out in the Green, Social and Sustainability Bond Framework
External reviewer: Moody's
Lead managers: CACIB, JP Morgan, La Banque Postale, NATIXIS, NatWest Markets, Societe Generale
Credit rating: Aa2/AA Moody's/S&P